Group Executive News
Discover the latest news and updates from Hancock Prospecting Group.
Historic Medal Haul for Australian Rowing Crews
ROWING: Australian rowing is celebrating its single greatest day in Olympic history with four medals including two gold on the water in Tokyo on Wednesday.
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Congratulations to our Most Successful Olympic Swim Team!
The most extraordinary Olympic swim meet of all time ended on the most brilliant of notes as Emma McKeon soared into the stratosphere in Tokyo today, in the process propelling Australia to its best performance ever in the Olympic pool.
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China’s iron ore imports are boosting Australia’s economic recovery
Prior to the pandemic, Australia’s relationship with China was at times strained, but generally uneventful. Despite Beijing giving federal cabinet the silent treatment on multiple occasions, the flow of trade between Australia and China continued relatively unimpeded.
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Iron ore stars in June export figures: ABS
“These incredible results underline the importance of Australia’s resources sector to the national economy and international markets throughout the COVID-19 downturn,” he said in response to the Quarterly. “Australia’s energy and resources sector has remained safe and reliable suppliers to domestic and global markets throughout the pandemic, helping to underpin economic growth and overcome the challenging trade conditions of the past year.”
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WA’s iron clad help for NSW
Leading economists believe that without WA’s record iron ore trade the Federal Government would not have had the financial flexibility to support NSW to the tune of $500 million a week during its COVID-19 lockdown. AMP chief economist Shane Oliver said without high iron ore prices the Government would not have had the cash to help NSW as much as it had. “The national income is given a boost by the iron ore boom and that is allowing the Federal Government to provide assistance to NSW, which then means incomes in NSW are protected and can bounce back more quickly,” he said.
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WA mining ensures Australians have Medicare
Over the past financial year, WA mining and oil and gas companies contributed $83 billion directly to Australia's economy, roughly one sixth of the entire federal government's revenue over the period. This is more than the federal government's budget for Medicare ($29.7 billion) and defence ($44.6 billion) combined. There are more than $140 billion worth of projects in the mining and oil and gas sector across WA, many of which are greenfield developments. The CMEWA said similar contributions from the resources sector would continue over the next decade.
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WA resources sector injects $122 billion into economy in 2019-20, CME survey shows
WA mining and resources companies injected almost $122 billion into Australia’s economy in the 2019-20 financial year through direct and flow-on spending, helping create 309,000 full-time jobs during COVID-19. The figures, from WA’s peak resources industry body, revealed the extent to which the local sector powered economies and communities around the nation as they reeled from the impacts of the pandemic. “That’s why it’s so important that both industry and government continue to tackle key challenges like current and future skills shortages, in order to fully capitalise on the significant opportunities we have in front of us.”
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Iron-ore drives Aus exports to record highs
“These incredible results underline the importance of Australia’s resources sector to the national economy and international markets throughout the Covid-19 downturn. “Australia’s energy and resources sector has remained safe and reliable suppliers to domestic and global markets throughout the pandemic, helping to underpin economic growth and overcome the challenging trade conditions of the past year."
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WA Perth Royal Show Dairy Awards, Bannister Downs recognised once again!
Competing in the 2021 Perth Royal Food Awards for the 15th consecutive year, Bannister Dairy produce, renowned for its quality and great flavour, awarded these champion titles, a true reflection of the effort and care that is made daily, with a complete focus on quality.
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WA premier Mark McGowan hikes port fees on iron ore miners BHP, Fortescue, Roy Hill
Mr McGowan on Monday announced that WA had delivered a $2.36 billion operating surplus for the first nine months of the current financial year, due primarily to the surge in iron ore prices. WA is the only jurisdiction in Australia running an operating surplus.
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Ore tax props up a nation
WA’s booming iron ore industry contributed nearly one-fifth of total company tax paid across the whole of Australia last year — about $15 billion — keeping the nation on its feet in the face of a devastating pandemic.
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Pilbara iron ore powering Australia’s economy
“I congratulate our iron ore sector for its strength, reliability and resilience during the COVID-19 pandemic, and for its continued support of Australia’s economy,” Minister Pitt said.
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New figures show mining sector powering the economy
“These changes will transform the NAIF to make it a more proactive investor in projects that will generate economic activity and job creation,”
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Miners deliver record $39bn windfall to boost government bottom lines
“Australia’s minerals industry paid record taxes and royalties to federal, state and territory governments in 2019-20 even as the COVID-19 pandemic started to push the economy into recession,”
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Resources sector boosts federal budget spending spree
The mining industry exceeded government expectations in its tax receipts, accounting for 30 per cent of company tax collections, which is forecast to reach $100.5 billion by 2024-25.
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Surging iron ore prices a ‘get out of jail free card’ for Morrison and Frydenberg
Accenture Managing Director Andrew Charlton says a recent surge in iron ore prices is a “get out of jail free card” for Scott Morrison and Josh Frydenberg
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